Price Co.: The San Diego-based company that...
Price Co.: The San Diego-based company that operates 41 Price Club discount warehouses, reported a 21% increase in profits and a 23% jump in sales for the second quarter ended March 12.
Part of the increase in sales can be attributed to Price’s having opened three more outlets over the past year. But quarterly sales at stores that have been open at least one year increased a healthy 17.3% over the year-before quarter.
Net income for the three months was $25.6 million on revenue of $1.04 billion, up from a profit of $21.1 million on sales of $842.6 million for the same quarter the previous year.
For the six months to date, Price Co. profit stands at $64.4 million on sales of $2.6 billion, up from a profit of $52 million on sales of $2.13 billion over the same two quarters the previous year.